Patriot Financial Group Insurance Agency LLC Acquires Shares of 2,532 Bio-Rad Laboratories, Inc. $BIO

Patriot Financial Group Insurance Agency LLC bought a new position in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,532 shares of the medical research company’s stock, valued at approximately $706,000.

A number of other large investors have also recently made changes to their positions in BIO. First Eagle Investment Management LLC raised its position in Bio-Rad Laboratories by 2.0% during the 4th quarter. First Eagle Investment Management LLC now owns 2,570,473 shares of the medical research company’s stock valued at $778,828,000 after purchasing an additional 50,154 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Bio-Rad Laboratories by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,077,072 shares of the medical research company’s stock worth $326,344,000 after buying an additional 14,134 shares in the last quarter. Earnest Partners LLC grew its position in shares of Bio-Rad Laboratories by 0.6% during the 3rd quarter. Earnest Partners LLC now owns 609,284 shares of the medical research company’s stock worth $170,837,000 after buying an additional 3,398 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Bio-Rad Laboratories by 18.2% during the fourth quarter. Capital Research Global Investors now owns 494,472 shares of the medical research company’s stock valued at $149,820,000 after buying an additional 76,117 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Bio-Rad Laboratories by 1.7% during the third quarter. Bank of America Corp DE now owns 459,887 shares of the medical research company’s stock valued at $128,948,000 after buying an additional 7,754 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Price Performance

Shares of NYSE BIO opened at $292.81 on Wednesday. Bio-Rad Laboratories, Inc. has a 52 week low of $236.73 and a 52 week high of $343.12. The business’s 50 day moving average price is $284.49 and its 200 day moving average price is $288.18. The company has a quick ratio of 2.37, a current ratio of 3.21 and a debt-to-equity ratio of 0.12. The firm has a market cap of $7.84 billion, a P/E ratio of 48.24 and a beta of 1.08.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). Bio-Rad Laboratories had a net margin of 6.52% and a return on equity of 3.56%. The business had revenue of $592.10 million during the quarter, compared to analysts’ expectations of $589.91 million. During the same period in the previous year, the company posted $2.54 earnings per share. Bio-Rad Laboratories’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 9.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings lowered Bio-Rad Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and cut their price target for the company from $375.00 to $300.00 in a report on Tuesday, April 7th. Wells Fargo & Company decreased their price objective on Bio-Rad Laboratories from $320.00 to $290.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Finally, Royal Bank Of Canada began coverage on Bio-Rad Laboratories in a research report on Friday, May 15th. They set an “outperform” rating and a $320.00 price objective on the stock. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $303.33.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc is a global provider of life science research and clinical diagnostic products. The company operates through two primary business segments: Life Science and Clinical Diagnostics. Within the Life Science segment, Bio-Rad offers instruments, reagents and consumables for protein analysis, cell biology, gene expression and other molecular biology applications. The Clinical Diagnostics segment supplies quality control products, blood-typing reagents and instruments, and molecular diagnostic assays used in blood screening, infectious disease testing and routine clinical laboratories.

Founded in 1952 by David and Alice Schwartz and headquartered in Hercules, California, Bio-Rad has grown its footprint across the Americas, Europe, Asia-Pacific and other regions.